This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Policy, visit this page.
A disruptive company has finally done what most large consumer transportation companies call a necessity, and even consider a massive profit center for the business.
In what seemed like an inevitability, Lyft has announced that it’s launching its own loyalty program called Lyft Rewards. The program will reward riders with points, car upgrades and more when it officially starts operating in December.
So far, details are somewhat slim, although there are a few nuggets in Lyft’s blog post announcing the program. You’ll earn points on every dollar you spend with Lyft, and those points can be used toward two types of rewards. First off, Lyft says points can be used for “savings on future rides.” You’ll also be able to redeem points for upgrades from regular Lyft rides to Lyft Lux, where you’ll enjoy a higher-end black cars.
Like airline loyalty programs, you’ll be able to track your points earning and progress toward upgrades in the app.
TPG reached out to Lyft to inquire about how many points you’ll earn per dollar spent and how many points you’ll need to unlock rewards — however, a Lyft spokesperson declined to share anymore information outside of its blog post. The screenshot above indicates that you’d need 150 points to upgrade to a Lyft Lux, but it’s anyone’s guess on how much you’d have to spend to earn that upgrade.
There’s more good news, too, as Lyft plans on rolling out more perks like “access to more-experienced drivers and double-points days.” It’s unclear when these benefits will be introduced, but it’s good to hear that the program is committed to advancing.
The company says Lyft Rewards will begin rolling out in December 2018 to select riders in various cities. You’ll know you’re eligible if you receive an email from Lyft inviting you to the program — so be sure to check your inbox for an invite. Lyft plans on making Rewards available to more riders in more cities in 2019.
Remember, Lyft already offers Delta SkyMiles on all rides and credit toward personal rides when taking business trips. Additionally, you can now sign up for its All-Access plan — a subscription service that costs $300 a month but potentially gets you $450 in rides.
Overall this is fantastic news as the rewards program can be stacked with Lyft’s other rewards offers and you can still earn tons of credit cards points when using the right card with Lyft — like the Chase Sapphire Reserve (3x points on all travel purchases; excluding $300 travel credit), Citi Premier Card (3x points on travel) and Chase Sapphire Preferred Card (2x points on travel).
Uber has tested a loyalty program in the past and there are rumors it will start a new one. Although with Lyft’s announcement, it’s likely only a matter of time before it introduces a scheme of its own.
Featured image by ANGELA WEISS/AFP/Getty Images.
Know before you go.
News and deals straight to your inbox every day.
NEW INCREASED OFFER: 60,000 Points
TPG'S BONUS VALUATION: $1,200
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
- Chase Sapphire Preferred named "Best Credit Card for Flexible Travel Redemption" - Kiplinger's Personal Finance, June 2018
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- No foreign transaction fees
- 1:1 point transfer to leading airline and hotel loyalty programs
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
- No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards